Halwani secures SAR 100 mln credit from Saudi Fransi Bank

23/12/2014 Argaam

Halwani Brothers Company said on Tuesday that it signed a SAR 100 million Islamic credit agreement with Saudi Fransi Bank.

The agreement has a term of four years and the amount will be repaid in quarterly installments starting from June 30, 2015, the company said in a filing to Tadawul.

The credit is covered by a mortgage of the company’s headquarters in Jeddah and aims at financing the completion of its complex in Jeddah Industrial City. 

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